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Concrete Products Manufacturer: Retained as turnaround consultants by the Board of Directors of the parent company to evaluate and recommend remedial actions to turnaround underperforming subsidiary. Evaluated and recommended remedial actions for a 0 million manufacturer of pre-cast concrete and fiberglass enclosures for the communication industry that was facing a severe liquidity crisis. Through discontinuation of unprofitable divisions, re-vamping of cost accounting systems to assure accurate and profitable bidding and billing, and improved accounts receivable collections, the company is now cash flow positive and significantly profitable. Telecommunications Company (CLEC): Retained as financial advisors to perform business strategy, valuation, and restructuring services. This Company had extensive long haul and other network assets and .2 billion in long-term debt. The company filed for Chapter 11 bankruptcy protection due to a severe cash flow crisis caused by large network construction, low utilization of related network assets, an ill conceived strategy coupled with poor execution, anemic management and adverse market conditions within this industry. This large-scale project involved an assessment of the company’s business plan, recommendations on changes in strategy and analysis of restructuring alternatives which culminated in a recommendation to sell the company. Assisted the company in coordinating the due diligence activities with over 30 interested buyers, providing detailed analysis on network assets, fiber costs (lit vs. unlit), revenue projections, provisioning, valuation scenarios, and customer data. Prepared contingency business plans in the event the sale fell through and the company had to proceed with an internal reorganization. The project culminated in a sale of the company for 0 million, well in excess of the initial 0 million bid.
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